Exxon Hit Again With Climate-Related Investor Suit

Law360 (May 3, 2019, 5:35 PM EDT) -- An ExxonMobil Corp. shareholder has accused the company of lying to the public about how it factored the impact of climate change in its business decisions, seeking through her derivative suit to hold its board members liable for allegedly misleading investors.

Exxon shareholder Sarah Von Colditz accused Exxon’s highest-ranking executives, including Rex Tillerson, its former CEO and President Donald Trump’s first secretary of state, of harming the company’s name and value by telling the public it was properly factoring in the cost of carbon into its business, yet failing to do so.

In a complaint filed in Texas federal court Thursday,...

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